Sensex reclaims 60,000 mark; FPI buying, macroeconomic data buoy sentiment

The Sensex reclaimed the 60,000 mark after seven weeks, despite rising Covid-19 cases, as the benchmark indices closed higher for the fourth straight session on Wednesday.

Inflows from foreign portfolio investors (FPIs), expectations of good quarterly results, and optimism triggered by positive macroeconomic numbers enthused investors. The Sensex gained 367 points, or 0.6 per cent, to close at 60,223, while the Nifty rose 120 points to end the session at 17,925 cent.

After being net sellers for about three months, FPIs have again turned net buyers since the beginning of this year. Analysts said FPIs had become net buyers because India had